Quote from: jcarlo on December 15, 2018, 09:34:27 AM

Quote from: mcqueen95 on February 24, 2018, 03:41:49 PM

Money is one of the important concepts, This section talks about money from the perspective of microeconomics.when people exchange goods and services without using money, this is called barter. "I'll cook dinner if you'll do the dishes" is an example of barter. Imagine an economy in wich i can sell services as a consultant to banks, but what i want is to buy a new suit. the clothing store that sell suits does not have any use for my services as a banking consultant. i sell consulting services for money, and i buy a suit using money. money serves as a medium of exchange. the bank does not sell suits. how can barter work?

Barter system is hard to implemented in modern economic system. Modern economic system require fast transaction record and money concept very useful. The problem with money right now is central banks always print money and market always flooded and its increasing inflation

That is a big problem but if cryptocurrencies really become as successful as we believe they will then it is likely that during the next years and decades more people will begin to use cryptocurrencies as a form of payment and the currencies printed by the governments are going to begin to lose power and that will be a good thing since people will not be as affected by inflation if they use cryptocurrencies.